Swiss consulting firm Pexapark says European developers have signed 24 power purchase agreements (PPAs) totaling 1,196 MW in July, with a 27% month-on-month increase in capacity, led by solar deals such as Europe’s largest decentralized solar PPA in France.
European developers signed 24 PPA's for 1,196 MW in July, according to the latest report from Pexapark.
July ended with a 27% increase in PPA volume compared to Junie, with 24 deals signed. Pexapark said this makes July the fourth-strongest month of 2024 so far.
Tracked PPA prices reached €51.60 ($57.38)/MWh in July, a 3.1% increase month on month. French and Nordic PPA prices saw the largest gains, up 5.2% and 5.1%, while increases were also recorded in the Dutch, Germany, Italian, Portuguese and Spanish markets. Great Britain and Poland saw PPA prices fall slightly, by 0.2% and 0.3%.
The largest PPA of the month was in France, where retail and wholesaling corporation Carrefour signed a 350 MW on-site solar deal with French renewables firm GreenYellow. Pexapark said the deal is Europe’s largest decentralised solar PPA to date, and the largest solar PPA recorded so far in France, with it set to cover 350 Carrefour sites across the country for a 20-year period.
Under the terms of the PPA, half of the multi-site development is scheduled for commissioning by the end of 2026. Pexapark’s report says the sites will produce a total of 450 GWh per year once completed.
A 134 MW Italian solar deal between A2A Group and Enfinity Global was the second largest deal in July. It was the only utilityPPA of the month.
Meanwhile, Luxembourg signed its first PPA in history. Enerdeal, a sister company of EDP, and tiremaker GoodYear Luxembourg inked the 20-year on-site PPA, which will see 5 MW of rooftop solar and a 2 MW carport system installed on the company’s premises in Colmar-Berg, Luxembourg. The project is expected to produce 6.5 GWh upon completion in the first half of 2025.
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